The Defense Department’s deputy chief financial officer said Friday that the department believes it will achieve the 2017 deadline to produce auditable financial statements. DoD is approaching the problem in way that makes clear that clean books are not only the responsibility of its accountants, he said.

Federal financial managers are coming to terms with financial compliance; limited money for new systems or upgrades; and the continuing need for achieving clean audits, financial transparency, and compliance. How are those financial managers facing these challenges is the subject of the Federal News Radio Discussion: Accounting in Austerity.

All agency bureaus will implement the Internet Payment Platform by 2012. Additionally, all Treasury vendors must submit invoices through the portal starting in 2013. The electronic invoice payment program is one of 12 initiatives to improve federal financial management.